Sun shines on Keighley business after funding
Keighley-based Fullsun Photovoltaics Limited has secured investment to take its solar energy product to international markets.
The six-figure Seedcorn Fund investment from Finance Yorkshire will mean the company can work on a prototype and Proof of Concept before taking it to high-sun countries.
Fullsun develop HCPV modules for the utility and commercial markets, and aim to become the lead supplier to the global solar energy markets.
CEO, Hugh Rudden, said: “We’ve got a very exciting product and it’s great that something like this can continue to be developed right here in the region because of access to the sort of funding Finance Yorkshire offers.
“We are in the early stages, but in a year, once we have taken the prototype through testing, we will be looking to expand the engineering team adding at least 12 new jobs. Longer term, once the company launches into production, we will be looking at very significant growth and expansion.”
Finance Yorkshire Investment Manager Graham Davies said: “Hugh has spent 20 years in senior management positions and has brought to market various new technologies and products in the hi-tech electronics markets.
“His Chief Technical Officer Geoffrey Duggan has 30 years industrial experience in multinationals, SMEs and start-ups, has worked with high profile names including Philips and Sharp and has been granted 11 US Patents.
“The combination of the duo’s wealth of experience and their passion for this product to be developed here in Yorkshire, mean we were keen to get involved and support the growth of Fullsun, which we hope will become a beacon company for the region.
“We will be working with the company to seek further funding and advice from other organisations, which have experience and connections within the high-sun regions around the world, to support the future development of the product.”
Finance Yorkshire provide seedcorn, loan and equity linked investments ranging from £15,000 to £2m, to help SMEs grow and develop. The project is supported by funds from the ERDF, Yorkshire Forward’s Single Programme, and the European Investment Bank.
This was posted in Bdaily's Members' News section by Tom Keighley .